Topical corticosteroids market

Q: Which are the prominent regions in the market?

North America is the prominent region in the market. Read more

Topical Corticosteroids Market, by Formulation (Creams, Ointments, Gels, Others), by Application (Acne, Dermatitis, Psoriasis, Eczema, Hyperpigmentation, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jun 2022
CMI5035
150 Pages
Excel & Pdf
Pharmaceutical

Summary

Topical steroids, also known as topical corticosteroids, are drugs that are applied directly to the skin to alleviate skin inflammation and irritation. They are available in a number of strengths such as Class I, II, III topical steroids, etc. and forms, such as creams or ointments, and can be prescribed or purchased over-the-counter (OTC).

Topical steroids aid by decreasing inflammation in the skin. Inflammation indicates an immunological response. The treatment is applied to an affected area of skin to assist in alleviation of symptoms such as rashes, scaly patches, itching, soreness, redness, or swelling.

Global Topical Corticosteroids (steroids) Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 524 million cases and 6.28 million deaths due to coronavirus disease (COVID-19) were reported till May 26, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Topical Corticosteroids

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting production and demand of drugs; 2) by creating disruptions in distribution channels; and 3) financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

There was a strong impact on topical corticosteroids market during COVID-19 pandemic, owing to increasing COVID-19 associated surge of atopic dermatitis leading to increase in use of topical corticosteroids. For instance, a survey conducted in Hubei (China) and published in the Journal of the American Academy of Dermatology in March 2020 found that 97 % of hospital staff experienced skin trauma as a result of constant COVID-19 infection-prevention methods. Moreover, in May 2020, a research published in the British Medical Journal reported an upsurge in incidents of skin injuries among healthcare personnel in the UK.

Global topical corticosteroids (steroids) market is estimated to be valued at US$ 4.12 Bn in 2022, and is expected to exhibit a CAGR of 4.36 % over the forecast period (2022-2030).

Figure 1: Global Topical Corticosteroids (steroids) Market Share (%) Analysis, By Formulation, 2022

Increasing number of cases of eczema and atopic dermatitis is the major factor that is expected to drive growth of global topical corticosteroids (steroids) market over the forecast period.

Increasing number of eczema & atopic dermatitis is expected to drive growth of the global topical corticosteroids (steroids) market. For instance, according to the Allergy & Asthma Network, around 31.6 million people in the U.S. had eczema in 2020, with 15% of children and 7.3 % adults having atopic dermatitis

Research and Development Activities

Increasing number of research and development activities related to topical corticosteroids by market players is expected to aid in growth of the global topical corticosteroids (steroids) market over the forecast period. For instance, in April 2022, Eli Lilly and Company, a global healthcare company, announced that Lebrikizumab, an IL-13 inhibitor, significantly improved disease severity when combined with topical corticosteroids (TCS) in people with moderate-to-severe atopic dermatitis (AD) in third pivotal Phase 3 trial (ADhere).

Topical Corticosteroids (steroids) Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2019:	US$ 4.12 Bn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	4.36%	2030 Value Projection:	US$ 5.80 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Formulation: Creams, Ointments, Gels, Others (solutions, foams, spray, etc.) By Application: Acne, Dermatitis, Psoriasis, Eczema, Hyperpigmentation, Others (rash, etc.) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:	GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA
Growth Drivers:	Increasing number of eczema cases Increasing research and development activities Increasing product launches or approvals

Global Topical Corticosteroids (steroids) Market – Regional Analysis

On the basis of region, the global topical corticosteroids (steroids) market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global topical corticosteroids (steroids) market over the forecast period, owing to increasing product launches or approvals by regulatory authorities. For instance, in September 2021, Mayne Pharma, a company focusing on the commercialization of new and generic medications, announced that US Food and Drugs Administration (FDA) has approved LEXETTE (halobetasol propionate) foam, 0.05% for use in adolescents. LEXETTE, a very potent topical corticosteroid, has been approved for the treatment of plaque psoriasis in patients aged 12 and above.

Moreover, due to increasing number of approvals of topical corticosteroid for various indications, Europe is expected to witness a significant growth in the global topical corticosteroids (steroids) market over the forecast period. For instance, in September 2020, European Medicines Agency had announced that it had expanded Olumiant's (baricitinib) indication to include the treatment of moderate to severe atopic dermatitis in adult patients who are eligible for systemic therapy. In the European Union, Olumiant is already approved to treat moderate to severe active rheumatoid arthritis, a disease that causes joint inflammation.

Figure 2: Global Topical Corticosteroids (steroids) Market Value (US$ Bn), by Region, 2022

Global Topical Corticosteroids (steroids) Market – Competitive Landscape

Major players operating in the global topical corticosteroids (steroids) market include GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA

Table of Content

Table of Contents

*Key pointers provided are also applicable to other companies covered in the scope of the report.

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- Frequently Asked Questions -

What will be the compound annual growth rate (CAGR) of the Global Topical Corticosteroids (steroids) Market during the forecast period (2022-2030)?

Global topical corticosteroids (steroids) market is expected to exhibit a CAGR of 4.36% during the forecast period (2022-2030).

What is the estimated market size of the market in 2022?

The market is estimated to be valued at US$ 4.12 Bn in 2022.

Which are the prominent players operating in the market across the globe?

GlaxoSmithKline plc, Merck & Co., Inc., Sandoz International GmbH, AstraZeneca, LEO Pharma, Cipla Inc., Bristol-Myers Squibb Company, Almirall, S.A., Bausch Health, and Sanofi SA are some of the prominent players operating in the market.

What are the growth estimates for the market till 2030?

The market is expected to be valued at US$ 5.80 Bn in 2030.

Which are the prominent regions in the market?

North America is the prominent region in the market.

What are the key factors driving growth of the market?

Increasing number of cases of eczema, increasing research and development activities, and increasing product launches or approvals are some of the driving factors, which are expected to drive growth of the market.